Share this article
First Mover Americas: Investors Pile Into Bitcoin ETPs Following BlackRock ETF Filing
The latest price moves in crypto markets in context for July 19, 2023.
Updated Jul 19, 2023, 3:17 p.m. Published Jul 19, 2023, 12:01 p.m.
Make us preferred on Google
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Latest Prices
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Top Stories
Crypto investors have poured money into bitcoin exchange-traded products at a record pace ever since BlackRock filed for a spot-based ETF on June 15. New data from K33 Research shows the BTC-equivalent exposure of ETPs listed worldwide increased by 25,202 BTC ($757 million) to 196,824 BTC in the four weeks to July 16. That's the second-highest monthly net inflow, surpassed only by inflows seen following the launch of ProShares’ futures-based ETF and other futures-based ETFs in October 2021, according to K33 Research’s Vetle Lunde.
Societe Generale's (GLE) cryptocurrency division, SG Forge, has become the first company to receive a license to offer crypto services in France from the country's financial regulator. SG Forge is licensed to provide buying and selling, exchange and custody of digital assets as of July 18, according to the Autorité des Marchés Financiers (AMF)'s website. While dozens of crypto firms, including the world's largest cryptocurrency exchange, Binance, are registered with the AMF, SocGen's crypto division is the first to receive a license.
Messaging platform Telegram issued $270 million in bonds this week to fund its growth until "we reach the break-even point," CEO Pavel Durov announced Tuesday. The platform is not yet profitable and has rising expenses due to its "massive growth," Durov said. It’s onboarding 2.5 million new users a day and earlier this year hit 800 million monthly active users. "I personally bought about a quarter of the new Telegram bonds, investing tens of millions into Telegram's growth. This comes in addition to the hundreds of millions I spent over the last 10 years to keep Telegram operational," Durov said. The alternative messaging platform has long been a favorite among crypto enthusiasts. That's partly attributable to the company's defunct efforts to launch its own crypto token, GRAM.
Chart of the Day
- The chart shows DeFi lender Aave's algorithmic dollar-pegged stablecoin GHO has crossed $3 million in market capitalization within four days from the launch.
- The stablecoin can be minted by locking AAVE, ETH, USDT, USDC and DAO as collateral on Aave V3.
- Source: DeFiLlama
- Omkar Godbole
Trending Posts
- Arkham's Token Debuts at $0.75 After Being Sold for $0.05 in Binance Launchpad
- Crypto VC Firm Polychain Capital Raises $200M for Fourth Fund: Fortune
- XRP’s 60% Weekly Gain Defies Broader Crypto Slump as Bitcoin Stalls Below $30K
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
XRP could outperform bitcoin as XRP/BTC chart shows rare Ichimoku breakout since 2018
Traders are watching if XRP can reclaim the $2.31-$2.32 range or remain in a descending channel.
What to know:
- XRP fell from $2.39 to $2.27, breaking below the $2.32 support level.
- A high-volume drop to $2.21 was absorbed by demand, stabilizing the price.
- Traders are watching if XRP can reclaim the $2.31-$2.32 range or remain in a descending channel.
Top Stories
